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Abstract

Medicaid programs are under intense budget pressure. State health care costs nearly doubled from 2005 to 2015, reaching $929 billion. By 2025, more than 38 percent of state dollars will go to health care. Against this backdrop of rising health expenditures, the Centers for Medicare & Medicaid Services (CMS) rolled out new requirements to ensure states examine all the financial assets of seniors seeking Medicaid coverage for long-term care (LTC). States are required to have an Asset Verification System to determine whether Medicaid LTC applicants have assets that can be used to defray the costs of skilled nursing facilities, prescription drugs, community-based services, and other expenses.